ESPOO, FINLAND – Aspocomp reported second quarter net sales of EUR 5.3 million (US$5.9 million), up 22% year-over-year.

The five largest customers accounted for 52% of net sales, and 92% were generated in Europe, 6% in Asia, and 2% percent in North America. Orders from automotive industry customers increased significantly, and deliveries to telecommunications customers improved after a weak start to the year, the firm says.

Second quarter operating profit increased to EUR 200,000, representing more than 3% of net sales, compared to an increase of EUR 500,000 in the prior-year quarter.

First-half 2016 net sales were EUR 9.5 million, up 6% year-over-year. Operating profit was down EUR 300,000; the firm’s operating profit was down EUR 400,000 for the same period in 2015.

“Sales increased during the second quarter to EUR 5.3 million and were EUR 1.2 million higher than in the first quarter. Growth was 22% in comparison to the previous year's second quarter, or almost EUR 1 million,” said CEO Mikko Montonen. “Demand improved, driven especially by automotive industry customers, but demand for printed circuit boards that support telecommunications customers' product development also picked up after a weak start to the year. The focus of growth during the second quarter was on Central Europe and especially Germany, which is Europe's largest printed circuit board market.”

The company expects full-year 2016 net sales to grow.

Ed.: EUR 1 = US$1.1135

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